Completion of Minimum Offering. Subject to the provisions of Section 10 hereof, NCPS shall pay to Issuer the liquidated value of the Escrow Funds, by Automated Clearing House (“ACH”), no later than one (1) business day following receipt of the following documents:
(1) A Minimum Offering Notice;
(2) Subscription Accounting Spreadsheet substantiating the sale of the Minimum Offering and maintained by the sponsor;
(3) Instruction Letter (as defined below); and
(4) Such other certificates, notices or other documents as NCPS shall reasonably require. NCPS shall disburse the Escrow Funds by ACH from the Escrow Account in accordance with joint written instructions signed by both the Issuer, Platform as to the disbursement of such funds (the “Instruction Letter”) in accordance with this Section 4(a). Notwithstanding the foregoing, NCPS shall not be obligated to disburse the Escrow Funds to Issuer if NCPS has reason to believe that (a) Cash Investment Instruments in full payment for that number of Securities equal to or greater than the Minimum Offering have not been received, deposited with and collected by NCPS, or (b) any of the certifications and opinions set forth in the Minimum Offering Notice are incorrect or incomplete. After the initial disbursement of Escrow Funds to Issuer pursuant to this Section 4(a), NCPS shall pay to Issuer any additional funds received with respect to the Securities, by ACH, no later than one (1) business day after receipt.
Completion of Minimum Offering. Subject to the provisions of Section 10 hereof, Escrow Agent shall pay to Issuer the liquidated value of the Escrow Funds, by certified or bank check or by wire transfer, no later than fifteen (15) business days following receipt of the following documents:
(1) A Minimum Offering Notice;
(2) Subscription Accounting, substantiating the sale of the Minimum Offering;
(3) The documents described on Exhibit B attached hereto and incorporated herein by reference; and
(4) Such other certificates, notices or other documents as Escrow Agent shall reasonably require. Notwithstanding the foregoing, Escrow Agent shall not be obligated to disburse the Escrow Funds to Issuer if Escrow Agent has grounds to believe that (a) Cash Investment Instruments in full payment for that number of Shares equal to or greater than the Minimum Offering have not been received, deposited with and collected by the Escrow Agent, or (b) any of the certifications and opinions set forth in the documents described in Exhibit B attached hereto are incorrect or incomplete. After the initial disbursement of Escrow Funds to Issuer pursuant to this Section 4(a), Escrow Agent shall pay to Issuer any additional funds received with respect to the Shares, by certified or bank check or wire transfer, no later than fifteen (15) business days after receipt.
Completion of Minimum Offering. Escrow Agent shall pay to the Issuer the liquidated value of the Escrow Funds, by certified or bank check or by wire transfer, no later than five (5) business days following receipt of the following documents:
(1) A Minimum Offering Notice;
(2) Subscription Accounting, substantiating the sale of the Minimum Offering Amount; and
(3) A W-8 or W-9, and such other certificates, notices or other documents as Escrow Agent shall reasonably require. Notwithstanding the foregoing, Escrow Agent shall not be obligated to disburse the Escrow Funds to Issuer if Escrow Agent has reason to believe that (a) Cash Investment Instruments in full payment for that number of Shares equal to or greater than the Minimum Offering Amount have not been received, deposited with and collected by the Escrow Agent, or (b) any of the certifications set forth in the Minimum Offering Notice are incorrect or incomplete. After the initial disbursement of Escrow Funds to Issuer pursuant to this Section 6(a), Escrow Agent shall pay to Issuer any additional funds received with respect to the Shares, by certified or bank check or wire transfer, no later than five (5) business days after receipt. Escrow Agent shall not be required to obtain from the Issuer a Subscription Accounting before disbursing funds once the Minimum Offering Amount has been disbursed.
Completion of Minimum Offering. Subject to the provisions of Section 10 hereof, NCPS shall pay to Issuer the liquidated value of the Escrow Funds, by wire no later than one (1) business day following receipt of the following documents:
(1) A Minimum Offering Notice;
(2) Subscription Accounting Spreadsheet substantiating the sale of the Minimum Offering and maintained by the sponsor;
(3) Instruction Letter (as defined below); and
(4) Such other certificates, notices or other documents as NCPS shall reasonably require. NCPS shall disburse the Escrow Funds by wire from the Escrow Account in accordance with joint written instructions signed by both the Issuer, Placement Agent as to the disbursement of such funds (the “Instruction Letter”) in accordance with this Section 4(a). Notwithstanding the foregoing, NCPS shall not be obligated to disburse the Escrow Funds to Issuer if NCPS has reason to believe that (a) Cash Investment Instruments in full payment for that number of Securities equal to or greater than the Minimum Offering have not been received, deposited with and collected by NCPS, or (b) any of the certifications and opinions set forth in the Minimum Offering Notice are incorrect or incomplete. After the initial disbursement of Escrow Funds to Issuer pursuant to this Section 4(a), NCPS shall pay to Issuer any additional funds received with respect to the Securities, by wire, promplty after receipt. Additional disbursments shall be subject to the issuer providing the following documentation:
(1) Subscription Accounting Spreadsheet substantiating the sale of the Minimum Offering which shall be made available for electronic access to Issuer by NCPS;
(2) Instruction Letter (as defined above) from Issuer; and
(3) Such other certificates, notices or other documents as NCPS shall reasonably require.
Completion of Minimum Offering. Escrow Agent shall pay to North South by wire transfer the amount of the Escrow Funds equal to the Purchase Price multiplied by the number of Membership Interests purchased in the Minimum Offering, excluding interest and other income earned on the Escrow Funds, and deliver all documents and instruments, including certificates representing the Membership Interests for the Subscribers, no later than three (3) business days following receipt by Escrow Agent of the following items:
(1) The Minimum Offering Notice; (2) A Subscription Accounting, substantiating the sale of the Minimum Offering; (3) Subscription Agreements signed by all Subscribers; (4) Certificates representing the Membership Interests for the Subscribers;
Completion of Minimum Offering. Subject to the provisions of Section 5 hereof, Escrow Holder shall pay to Company the liquidated value of the funds held in Escrow, by certified or bank check or by wire transfer, no later than one (1) business day following receipt of documents substantially in compliance with the following:
(1) a written notification (a "Minimum Offering Notice"), signed by Placement Agents, which shall specify that subscriptions for at least $4,000,000 in Units (the "Minimum Subscriptions") have been received; that, to the best of Placement Agent's knowledge after due inquiry and review of its records, wire transfers or federal funds checks in full payment for that number of Units equal to or greater than the Minimum Subscriptions have been received, deposited with and collected by Escrow Holder; and that such subscriptions have not been rejected or otherwise terminated;
(2) an accounting of all subscriptions for Units received and accepted by Company as of the date of the Minimum Offering Notice, substantiating the sale of the Minimum Subscriptions and indicating for each subscription the Subscriber's name, the number and total purchase price of subscribed Units, the date of receipt by Company of the subscription documents and subscriptions funds, and any rejection of such subscription by Company, or other termination, for whatever reason, of such subscription.
(3) an opinion of counsel address to Escrow Holder that (a) the Registration Statement has been declared effective under the Securities Act of 1933, and (b) to the best of its knowledge, no stop order has been issued or threatened to be issued by the SEC or any other federal or state regulatory authority in connection with the Registration Statement or the offering of Units pursuant thereto; and
(4) Such other certificates, notices or other documents as Escrow Holder shall reasonably require. Notwithstanding the foregoing, Escrow Holder shall not be obligated to disburse funds from Escrow to Company if Escrow Holder has grounds to believe that (a) checks in full payment for that number of Units equal to or greater than the Minimum Subscriptions have not been received, deposited with and collected by the Escrow Holder, or (b) any of the certifications and opinions provided pursuant to this Section 5(a) are incorrect or incomplete. After the initial disbursement of funds from Escrow to Company pursuant to this Section 5(a), Escrow Holder shall pay to Company any additional funds received with respect to the Units,...
Completion of Minimum Offering. Subject to the provisions of Section 10 hereof, Escrow Agent shall pay to Company the liquidated value of the Escrow Funds, by certified or bank check or by wire transfer, no later than two (2) business days following receipt of the following documents:
(1) A Minimum Offering Notice;
(2) Subscription Accounting, substantiating the sale of the Minimum Offering;
(3) Duplicate Original of the Trust Indenture described in the Prospectus; and
(4) Such other certificates, notices or other documents as Escrow Agent shall reasonably require. After the disbursement of Escrow Funds to Company pursuant to this Section 4(a), Escrow Agent shall pay to Company any additional funds, including investment earnings, received with respect to the Debentures, by certified or bank check or wire transfer, no later than fifteen (15) business days after receipt.
Completion of Minimum Offering. Subject to the provisions of Section 10 hereof, upon the successful completion of raising the Minimum Offering, the Escrow Agent shall disburse the Escrow Funds as instructed by the Issuer, by certified or bank check or by wire transfer, no later than one (1) business day, and for all other forms of transfer no later than five (5) business days, following receipt of the following documents:
(1) A letter executed by the Issuer authorizing the release of funds; and
(2) Such other certificates, notices or other documents as the Escrow Agent shall reasonably require. Notwithstanding the foregoing, the Escrow Agent shall not be obligated to disburse the Escrow Funds to the Issuer if the Escrow Agent has reason to believe that (A) Cash Investment Instruments in full payment for that number of Notes equal to or greater than the Minimum Offering have not been received, deposited with and collected by the Escrow Agent, or (B) any of the certifications described herein are incorrect or incomplete.
Completion of Minimum Offering. Escrow Agent shall pay to the Issuer the liquidated value of the Escrow Funds, by certified or bank check or by wire transfer, no later than five (5) business days following receipt of the following documents:
Completion of Minimum Offering. Subject to the provisions of Section 10 hereof, Escrow Agent shall pay to Company the liquidated value of the Escrow Funds, by certified or bank check or by wire transfer, no later than fifteen (15) business days following receipt of the following documents:
(1) A Minimum Offering Notice;
(2) Subscription Accounting, substantiating the sale of the Minimum Offering; and
(3) Such other certificates, notices or other documents as Escrow Agent shall reasonably require. Notwithstanding the foregoing, Escrow Agent shall not be obligated to disburse the Escrow Funds to Company if Escrow Agent has grounds to believe that Cash Investment Instruments in full payment for that number of Debentures equal to or greater than the Minimum Offering have not been received, deposited with and collected by the Escrow Agent. After the disbursement of Escrow Funds to Company pursuant to this Section 4(a), Escrow Agent shall pay to Company any additional funds received with respect to the Debentures, by certified or bank check or wire transfer, no later than fifteen (15) business days after receipt.
